MEP Sanjose Bags Order From NHAI Worth INR.6390 Million
MEP Sanjose Nagpur Ring Road 2 Private Limited ("MEP NRR2") a subsidiary company of MEP Infrastructure Developers Limited, had entered into a concession agreement with The National Highways Authority of India (NHAI") dated May 19, 2016 for four laning stand alone ring road/ bypass for the Nagpur City Package II from Km 34+000 to Km 62+035 (Design length 28+035 Km) in the state of Maharashtra on BOT (Hybrid Annuity) basis.
Key highlights of the project follows..
1. Construction period: 30 months from the appointed date.
2. Concession period: 15 years (Excluding construction period of 30 months).
3. The company will receive bi-annual annuity from NHAI post commercial operation date (COD).
4. The bid project cost is INR 6390.0 million out of which project finance will contribute INR 2875.5 million and remaining will be funded by grant from NHAI and equity contribution by the company.
MEP NRR2 had achieved the financial closure in terms of the concession agreement executed with NHAI ("the Authority"), by tying up of project finance of INR 2875.5 million on October 14, 2016.The authority now has given January 20, 2017 as the appointed date for the project vide letter dated January 18, 2017.
- Issued By:NATIONAL HIGHWAYS AUTHORITY OF INDIA
- Bagged By:
- Region:Western India
- Value:INR 6390 Million
- Published On:2017-01-18